Meh had sompe points left and got a slime oil. Reading some of the posts just seems like a good way to trade crap you'd drop for even crappier items to npc for 2 gil.
Seems more like an ongoing Bonanza to me. Guy on BG got a Novio from it, in addition to the Nidhogg pop in this thread, there's very little reason
not to at least use your automatically granted points when you remember to. Personally all I've gotten are some meds n' foods, but stuff like Hedgehog Pie and Tavnazian Salad that weren't exactly throwaway.
Could be an intentional stab at supply/demand problems by SE. Truly good rewards may be few and far between...but given enough time and participation, the total rewards for a server could keep rare item prices in check/etc, much like Bonanza can tend to do with lower tier items.